Bitcoin extended its rally above the $55,000 resistance against the US Dollar. BTC could correct lower, but the bulls might aim more gains towards $60K.
Bitcoin climbed higher above the $52,000 and $54,000 resistance levels. The price is now trading above $53,000 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $53,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $55,500 and $56,500 resistance levels in the near term. Bitcoin Price Extends Rally
Bitcoin price started a strong increase above the $50,000 resistance. BTC even broke the $52,000 resistance level and settled above the 100 hourly simple moving average.
The upward move